The balance sheet reports:
A: a.the assets, liabilities, gains, and losses for a period of time
B: b.the changes in assets, liabilities, and equity for a period of time
C: c.the assets, expenses, and liabilities as of a certain date
D: dthe financial condition of an accounting entity as of a particular date
A: a.the assets, liabilities, gains, and losses for a period of time
B: b.the changes in assets, liabilities, and equity for a period of time
C: c.the assets, expenses, and liabilities as of a certain date
D: dthe financial condition of an accounting entity as of a particular date
举一反三
- Which of the following statement related to the three elements in a balance sheet is not true? A: Liabilities= Assets + Owners’ equity B: Assets refer to the resources controlled by the firm C: Liabilities refer to the amounts owed to lenders and other creditors D: Owner’s equity refers to the residual interest in the net assets of an entity that remains after deducting its liabilities
- The statement of cash flows reports: A: Assets, liabilities, and equity. B: Revenues, gains, expenses, and losses. C: Cash inflows and cash outflows for an accounting period. D: Equity, net income, and dividends. E: Changes in equity.
- Owners' equity is measured by subtracting liabilities from assets. This sentence can be described as the following equation ______. A: ASSETS - LIABILITIES + OWNER'S EQUITY B: ASSETS - LIABILITIES = OWNER'S EQUITY C: OWNER'S EQUITY = ASSETS + LIABILITIES D: OWNER'S EQUITY = LIABILITIES - ASSETS
- The statement of cash flows reports: A: Revenues and expenses B: Assets and liabilities C: Cash inflows and cash outflows D: Changes in equity
- Which of the following statement related to the three elements in a balance sheet is not true? A: A. Assets refer to the resources controlled by the firm B: B. Liabilities refer to the amounts owed to lenders and other creditors C: C. Owner’s equity refers to the residual interest in the net assets of an entity that remains after deducting its liabilities D: D. Liabilities= Assets + Owners’ equity